Issue - meetings

Strategic Risk Register

 

 

Meeting: 23/06/2022 - Cabinet (Item 11)

11 Strategic Risk Register pdf icon PDF 101 KB

To consider and decide on the recommendations as set out in the associated report. 

Additional documents:

Decision:

RESOLVED: That the Committee notes the risk management report and arrangements for managing strategic risk.

 

REASON FOR DECISION: To effectively manage strategic risks in accordance with the method advised by the Council’s auditors.

Minutes:

Councillor Andrew Hickey, Cabinet Member for Finance and Performance introduced Lee Colyer, Director of Finance, Policy and Development who presented the report as set out in the agenda.

 

RESOLVED: That the Committee notes the risk management report and arrangements for managing strategic risk.

 

REASON FOR DECISION: To effectively manage strategic risks in accordance with the method advised by the Council’s auditors.

Meeting: 08/06/2022 - Finance and Governance Cabinet Advisory Board (Item 5)

5 Strategic Risk Register pdf icon PDF 100 KB

To consider and provide a recommendation to Cabinet on the proposals set out in the attached report.

Additional documents:

Minutes:

Lee Colyer, Director of Finance, Policy and Development introduced the report set out in the agenda.

 

Discussion and questions from Members included the following:

 

-       Since the report had been written the Bank of England had issued their monetary policy report.  The report gave a pessimistic picture going forward which included inflation rising to 10%, recession and the economy taking a downturn.

-       The risk register was a live document and could therefore be updated as necessary.  This applied to any of the scenarios included in the report.

-       Since writing the report the accounts had been closed but there had been an improvement in the Council’s position over the medium term (Scenario 4) and this would continue to be monitored. 

-       The success of the Amelia Scott (Scenario 9) could be measured in terms of footfall, whilst it was early days, there had been an increase in footfall in the town.  There had also been an increase in the number of shops opening/reopening.

-       As more data became available, the better able the Council would be to measure the success of the Amelia Scott. 

 

RESOLVED – That the recommendations to Cabinet as set out in the report be supported.